The National Company Law Appellate Tribunal (NCLAT) has stayed insolvency proceedings against Reliance Infrastructure (R-Infra), offering the company major relief after it cleared the full outstanding amount of ₹92.68 crore owed to Dhursar Solar Power Pvt Ltd (DSPPL).
The tribunal’s decision came in response to R-Infra’s appeal challenging the May 30 order by the National Company Law Tribunal (NCLT), which had admitted an insolvency plea filed by IDBI Trusteeship Services.
Acting as DSPPL’s security trustee, IDBI had filed the petition under the Insolvency and Bankruptcy Code (IBC), 2016, alleging a default on 10 invoices between 2017 and 2018.
“The company has made full payment of ₹92.68 crore to Dhursar Solar…
